Flashcards in Topic 05-Personal Sales Management Deck (32)
Sources of Communication (4)
1) Personal communication, marketer sponsored:
-salespersons, DM to customers
-targetet emails and display ads
2) Personal communication, non-marketer sponsored:
Friends and family
-trial/sampling, personal experience
3) Mass Communication, market sponsored:
-TV/Radio/Print, PR, Spam, Blogs; Social Media, etc.
4) Mass communication, non marketer sponsored
Publicity by third parties
-objective customer blogs, reports
-ex.: Stiftung Warentest
Stages in buying process (7)
Transactional selling (5)
-get new accounts
-get the order
-cut price to get the sale
-manage all acounts to maximise short term sales
-sell to anyone
-retain existing accounts
-become the preferred supplier
-price for profit
-manage each account for long term profit
-concentrate on high-profit-potential accounts
Characteristics of modern selling (6)
1) Problem solving/system selling
2) Adding value/satisfying need
3) customer retention & deletion
4) Database and knowledge management
5) Customer relationship management
6) marketing the product
Definition: Personal Selling
Personal selling involves one-to-one communication, proving essential for certain product types and business markets. It is needed when a firm engages in a push strategy.
A person who represents a company directly to customers by performing several sales activities.
Types of sales jobs (6)
1) Team selling
2) Order getter
3) New-business salesperson
4) Missionary salesperson
5) Technical specialist
6) Order taker
Definition: Team selling
Team selling is required for pigger products that are more complex so that several experts are required to explain certain aspects of it, meaning that the salespeople need to act as a team to get the sale.
Definition: Order getter
First line salespeople who have to presuade the customer to buy a product. They also want to maintain good relations with the customer. He does a lot of cold calling and visits.
Definition: New-business salesperson
This involves a salesperson who wants to sell to new businessmarket or environment, the company never sold befor. Ex.: Chinese ariplane manufacturers who want to sell to european market.
Definition: Missionary salesperson
Somebody who sells ideas and solutions. These might be produced later. (ex: Pharmaceutical salespeople to doctors).
Definition: Technical specialist
Somebody who also takes care of maintenance and can help in selling situations activities but wants to sell you something at the same time.
(ex.: 1&1, telecompany: customer service but want to sell an e-scooter)
Definiton: Order taker
The typical person at the counter who simply registers your order.
The sales process (8)
1) Prospecting and qualifying
4) Need assesment
5) Presentation/the pitch
6) Meeting objectives
8) Follow-up and service
-Process by which salespeople identify and develop a list of possible customers
-via directories and commercial databases, search engines, customer referrals, trade shows and cold calling.
-Process of identifying good prospects and screening out poor ones; good prospect=MAD buyer
-Once the prospects are identified, the salesperson must then qualify leads.
M - Money to spend
A - Authority to buy
D - Desire to buy
At this stage, the salesperson learns as much as possible about a prospective customer before making a sales call.
Salesperson meets the buyer and gets the relationship off to a good start (first impressions very important!).
Importance first impression
-A good approach makes a favorable impression and establishes some degree of rapport between the salesperson and the buyer
-good to have an ice breaker (ex.: fish and lemon in a pitcher of water)
Definition: Need assesment
At this stage, the salesperson mus discover, clarify and understand the buyer's needs via the following steps:
1) Questioning the customer
2) Need identification
3) Pre-commitment (to find out what is needed to be convinced)
-Now the salesperson tells the product "story" to the buyer using the need-satisfaction approach.
-Presentation is usually referred to as a discussion of those product and/or service features that the customer has indicated as important to them.
Tips for effective presentations (6)
1) Built around a forceful product demonstration
2) Adaptive selling is better then a prepared presentation (pitch adapted to customers needs and wants)
3) KISS- Keep it short & simple
4) Talk prospects language
5) Stress the application of the product/service to the prospects situation
6) Seek credibility at every turn
Definition: Handling (meeting) objections
Here the salesperson seeks out, clarifies and overcomes customer objections to buying.
-These should be welcomed as opportunities, because they indicate that the prospect has some interest in the proposition.
Types of objections (4)
1) Price or value objections
2) Product or service objections
3) Procrastinating objections
4) Hidden objections (racism etc...)
Finally, the salesperson asks the customer for an order. Closing the deal has to be anti-climactic and yes/no questions should be avoided to avoid rejection.
Common sales closes (3)
1) Assumptive close (SP assumes that the customer wants to buy the product)
-Now what size do you want? You have to sign here.
2) Special offer close
3) Summary close (Summerizing features and benifits)
-summary + we can deliver it until...
-Occurs after the sale and ensures customer satisfaction and repeat business.
-The sale is definetly not over when they get the order (relationship selling vs. transactional selling)
-The customer has to be fully satisfied, thus building trust and great loyality
-Existing customers are cheaper to maintain than to acquire new ones.